No. You need to go to Applications -> Utilities -> Boot Camp Assistant. From there, simply follow the instructions to start the installation process.
Remember to install drivers (Boot Camp will prompt you to create a CD or insert a flash disk, and will download them) once Windows 7 is installed.
When the computer boots up, if you don't want to boot into the default OS currently configured in the boot loader, hold down the Option key when you hear the startup chime.